Importance The article reviews the trends in Russia's economy development with and without the Group of Seven. Objectives The purpose of the study is to analyze changes in Russia's economy development with and without the Group of Seven on the basis of estimation of growth rates in the set of interdependent financial and economic factors, reveal positive and negative factors, show beneficiary countries of the Rusexit process. Methods The study draws on general tenets of prediction theories and practices of systems analysis of financial and economic factors, fundamental laws, findings of applied research in the field of economic equilibrium. Results The factor analysis of changes in the country development of the Group of Seven and Group of Seven+ on the basis of assessing the growth rates in the set of interrelated financial and economic factors enabled to show positive and negative rates of growth of the Russian economy, as well as beneficiary countries by each factor. The findings can be used in the international financial and economic policy formation, in the process of selecting countries and groups of countries for cooperation, and assessing the benefits of international cooperation and the exit from it. Conclusions To maintain the equilibrium state of the Russian economy, it is important to ensure growth in broad money, GDP per capita, gross fixed capital formation, a decrease in imports of goods (services) and inflation, and population growth while formulating the strategic areas of international cooperation.
Keywords: Group of Seven, country development, growth rate, factor analysis
References:
Morgan K., Sonnino R. The urban foodscape: World cities and the new food equation. Cambridge Journal of Regions, Economy and Society, 2010, vol. 3, iss. 2, pp. 209–224. URL: Link
Vargas da Cruz M.J., Camargo Rolim C.F. The Brazilian automotive industry in the BRICs context: The case of the Metropolitan Region of Curitiba. Cambridge Journal of Regions, Economy and Society, 2010, vol. 3, iss. 3, pp. 319–334. URL: Link
O'Brien R., Keith A. The geography of finance: After the storm. Cambridge Journal of Regions, Economy and Society, 2009, vol. 2, iss. 2, pp. 245–265. URL: Link
Yakop M., Peter A.G. van Bergeijk. Economic diplomacy, trade and developing countries. Cambridge Journal of Regions, Economy and Society, 2011, vol. 4, iss. 2, pp. 253–267. URL: Link
Horner R., Schindler S., Haberly D., Aoyama Yu. Globalisation, uneven development and the North-South ‘big switch’. Cambridge Journal of Regions, Economy and Society, 2018, vol. 11, iss. 1, pp. 17–33. URL: Link
Rutherford T.D., Holmes J. Manufacturing resiliency: Economic restructuring and automotive manufacturing in the Great Lakes region. Cambridge Journal of Regions, Economy and Society, 2014, vol. 7, iss. 3, pp. 359–378. URL: Link
Lyubushin N.P., Babicheva N.E., Lylov A.I. [Economic analysis of business entities' sustainable development under cyclicality]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 1, pp. 4–17. (In Russ.) URL: Link
Mitsek S.A., Mitsek E.B. [Economic growth, inflation, investments and incomes in the Russian Federation: Econometric model-based analysis and forecast]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 1, pp. 18–29. (In Russ.) URL: Link
Oborin M.S., Sheresheva M.Yu., Shimuk O.V. [Development of a system of indicators of assessment, analysis and monitoring of the resource potential of the region]. Finansy i kredit = Finance and Credit, 2018, vol. 24, iss. 1, pp. 154–177. (In Russ.) URL: Link
Cerutti E., Claessens S., Ratnovski L. Global liquidity and cross-border bank flows. Economic Policy, 2017, vol. 32, iss. 89, pp. 81–125. URL: Link
Stewart K., Webb M. International competition in corporate taxation: Evidence from the OECD time series. Economic Policy, 2006, vol. 21, iss. 45, pp. 154–201. URL: Link
Eichengreen B., Panizza U. A surplus of ambition: Can Europe rely on large primary surpluses to solve its debt problem? NBER Working Paper Series,2014, no. 20316, 50 p. URL: Link
Khabaza I.M. An Iterative Least-Square Method Suitable for Solving Large Sparse Matrices. The Computer Journal, 1963, vol. 6, iss. 2, pp. 202–206. URL: Link
Cardiel N. Data boundary fitting using a generalized least–squares method. Monthly Notices of the Royal Astronomical Society, 2009, vol. 396, iss. 2, pp. 680–695. URL: Link
Jarratt P., Mack C. A least squares method for Laplace's equation with Dirichlet boundary conditions. The Computer Journal, 1968, vol. 11, iss. 1, pp. 83–87. URL: Link
Grigoli F., Cesca S., Dahm T., Krieger L. A complex linear least-squares method to derive relative and absolute orientations of seismic sensors. Geophysical Journal International, 2012, vol. 188, iss. 3, pp. 1243–1254. URL: Link
Bо T.H., Dysvik B., Jonassen I. LSimpute: Accurate estimation of missing values in microarray data with least squares methods. Nucleic Acids Research, 2004, vol. 32, iss. 3. URL: Link
Xu Yu., Mildred E. Warner. Understanding employment growth in the recession: The geographic diversity of state rescaling. Cambridge Journal of Regions, Economy and Society, 2015, vol. 8, iss. 2, pp. 359–377. URL: Link
Kvittingen A., Valenta M., Tabbara H., Baslan D., Berg B. The Conditions and Migratory Aspirations of Syrian and Iraqi Refugees in Jordan. Journal of Refugee Studies, 2018, fey015. URL: Link
Arizpe E. Refugee. By Alan Gratz. Migration Studies, 2018, mny007. URL: Link
